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Figure 4 Forks (thousands) 70 58 46 20 0 A ID B E 44 60 C 190 80 Spoons (thousands)

Figure 4 Forks (thousands) 70 58 46 20 0 A ID B E 44 60 C 190 80 Spoons (thousands)

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterA: The Use Of Mathematics In Principles Of Economics
Section: Chapter Questions
Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?
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Figure 4 Forks (thousands) 70 58 46 20 0 A ID B E 44 60 C 190 80 Spoons (thousands)
Transcribed Image Text:Figure 4 Forks (thousands) 70 58 46 20 0 A ID B E 44 60 C 190 80 Spoons (thousands)
18. Refer to Figure 4. If the economy is currently producing at point B, what is the opportunity cost of moving to point C? A) 20 thousand spoons B) 26 thousand forks C) 44 thousand spoons D) 46 thousand forks 19. Refer to Figure 4. The shape of this production possibilities frontier indicates that opportunity costs for both forks and spoons are: A) High B) Low C) Increasing D) Decreasing
Transcribed Image Text:18. Refer to Figure 4. If the economy is currently producing at point B, what is the opportunity cost of moving to point C? A) 20 thousand spoons B) 26 thousand forks C) 44 thousand spoons D) 46 thousand forks 19. Refer to Figure 4. The shape of this production possibilities frontier indicates that opportunity costs for both forks and spoons are: A) High B) Low C) Increasing D) Decreasing
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